FGV records net profit of RM38.77 million in third-quarter 2017

November 24, 2017

Felda Global Ventures Holdings Bhd (FGV) has recorded a net profit of RM38.77 million in the third quarter (Q3) ended September 30, 2017 from a net loss of RM73.61 million recorded in the same quarter a year ago.

The company said the recorded net profit for the quarter was contributed mainly by strong performance from sugar, and logistics and others (LO) sectors.

Its revenue in Q3 slipped marginally by one % to RM4.15 billion from RM4.19 billion.

For the nine-month period, FGV recorded a net profit of RM67.15 million from a net loss of RM80.99 million, due to strong performance from the plantation and LO sectors.

Its revenue in the same period increased five % to RM12.69 billion from RM12.09 billion.

Group president and chief executive officer Datuk Zakaria Arshad said for the nine-month period, the plantation sector’s performance posted a marked improvement by achieving a RM255 million profit against a loss of RM30 million in the same period last year.